Global payment giant Mastercard is preparing to take a new step towards the crypto sector.
According to an exclusive report by Fortune, the company is in advanced talks to acquire Zero Hash, a startup developing stablecoins and blockchain infrastructure, for an estimated $1.5 billion to $2 billion. Five sources familiar with the matter spoke on condition of anonymity for confidentiality reasons. The deal, if finalized, would be one of Mastercard’s biggest moves in the stablecoin space.
Founded in Chicago in 2017, Zero Hash offers infrastructure services such as stablecoin payments and crypto trading. Mastercard’s potential acquisition follows discussions with BVNK, a stablecoin startup the company had previously expressed interest in. Both Mastercard and Coinbase competed for BVNK with bids of approximately $2 billion. According to sources, Coinbase won the competition and signed an exclusivity agreement with BVNK, effectively shutting out other bids.
As the crypto market regained momentum over the past year, stablecoin companies have become a favorite among investors. A recent example of this trend was payments company Stripe’s $1.1 billion acquisition of stablecoin startup Bridge. Following this development, similar investment rounds and acquisition talks have accelerated.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-mastercard-prepares-to-invest-2-billion-in-the-cryptocurrency-sector/
